The post The Open Network raises $30M, Drift Protocol brings in $25M appeared on BitcoinEthereumNews.com.

The Open Network and Drift Protocol emerged as the top two firms with the highest funds raised in the last seven days. Per a report by Galaxy, 2024 has been a good year for the fundraising industry, as there has been a steady uptick in the funds raised. As of July 1, founders are reporting an active fundraising environment. Even though there was a drop in deal count from 603 in the first quarter to 577 in the second, capital invested paints a different picture with a rise to $3.2 billion in Q2 from Q1’s $2.5 billion. Data shows a 28% increase in capital invested quarter over quarter. When it comes to geographical location, United States-headquartered companies accounted for more than 40% of all deals in Q2. The United Kingdom followed suit with 10%, and Singapore enjoyed 8.7% of all deals. As for the most recent crypto VC funding rounds, crypto.news compiled the latest announcements from Sept. 15 to Sept. 21 using data obtained from Crypto Fundraising. Let’s look at the companies that grabbed headlines with million dollar-plus rounds. The Open Network, $30 million TON is a layer-1 blockchain that was originally developed as the Telegram Open Network. Now known as The Open Network (TON), it raised $30 million this week and over $54 million since its inception in 2018. Bitget and Foresight Ventures contributed to the latest fundraising effort. Drift Protocol, $25 million Drift Protocol is a Solana-based DEX that offers spot trading, swaps and perpetual futures. It closed a $25-million Series B funding round led by Multicoin Capital. The firm has raised over $52.3 million so far. Helius, $21.75 million Helius is a provider of RPC Nodes, APIs, webhooks and developer tooling. Lead investors of the $21.75 million include HAUN, Founders Fund, Foundation Capital, 6MV, Chapter One and…

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Filed under: News - @ September 21, 2024 6:28 pm